Low hanging fruit8 Jun 2019 19:00
You cannot blame the Sound management too much for trying to prove up Tendrara by going for a risky drilling programme. Exploration companies do that sort of thing. The trouble with low hanging fruit is that everyone recognises it as such. SBK, TE-4 and TE-2 and perhaps prospects M5 and B1 might be described as low risk targets. The company chose to push the envelope with Te8-11. The low risk targets are still where they were. As Sound could see they only require a little exploration and appraisal so could any buyer. A risky strategy yes, it might be said. But the wrong strategy no, only that it did not succeed. I think the "low hanging fruit" will provide value in any sale especially when linked to the proven model of the Te5 horst. That is Mr Parsons job. Good luck to him.